Relationship Marketing Research Paper

7018 Words29 Pages
• Relationship Marketing

Relationships marketing is a strategy that attempts to establish, develop, enhance, and maintain relationships and involve people over the long term so that they are loyal and supportive of the organisation.
The Emergence of Relationship Marketing as a Key Strategy -
Relationships marketing is currently seen as the dominant and most effective approach to the marketing of services. It is said that it is the biggest shift in the development marketing for fifty years. It is especially relevant to non-profit and service organizations such as schools, but it can equally apply to goods and industrial marketing. While it is regarded as a new term it is in reality an old phenomenon. It is a rediscovery of an ancient practice
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“A small market that is not served by competing products.” (Keegan, Moriarty, & Duncan, 1992)
2. “A method to meet customer needs through the tailoring of goods and services for small markets.”(Stanton, Etzel, &Walke, 1991)
3. “The customers in the niche have a distinct set of needs; they will pay a premium to the firm that best satisfies their needs; the niche is not likely to attract other competitors; the nicher gains certain economies through specialization; and the niche has size, profit, and growth potential”(Kotler, 2003). You will note that the key emphasis of these definitions is the focus on small market (segments). Two of the definitions also add that there is an absence of competitors. However, these definitions do not explicitly highlight the importance of expertise and specialization in being a successful niche marketer. This skill set and focus is a critical component of the firm’s long-term success as a niche marketer. Therefore, a more appropriate definition of niche marketing would be:
• Niche marketing is a specialized market offering focused on the needs of a tightly-defined market
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MLM CONCEPT -
1. It is common knowledge that MLM works on the concept of time leverage. A work to be done by you in 100 days can be completed in one day if you have 100 people under you ( in a chain ) doing one day’s work. You earn a % of incentive for the work done by each of these 100 people. Though it is given various names like Network marketing, freelance marketing, chain marketing (money chain in a negative sense), the basic principle is that a happy consumer brings in more customers for which he is getting an incentive.
2. The net work plan or income schemes vary from company to company. The more reputed companies in MLM in India and abroad are, Amway, Modicare, Oriflamme, Tupperware, Quantum, RMP, Goodways, Placement Services etc.
3. All these companies have web based information system where a member can monitor the growth of his down line memberships, incomes accrued

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